Sugar stocks up on hope of duty hike.

Sugar stocks rose by up to 20 per cent on expectation of an increase in customs duty to curb cheaper imports and estimates of lesser production than previous projections. The share price of Shree Renuka Sugars jumped the highest, to close at ~15.66. Bajaj Hindusthan and Simbhaoli Sugars surged by 9.3 per cent and 7.3 per cent, to close at ~16.36 and ~31.45, respectively. Also, monsoon rain has been sporadic in major cane growing areas, prompting analysts to forecast less output than previous estimates.